Economy

Below are introductory paragraphs and links to 21 videos, ranging in length from just 5:37 minutes to a whopping 4 hours and 30 minute documentary. Any one of them will make you much more knowledgeable about our current financial/economic predicament. They have been viewed, in total, more than 8,880,000 times so I think you should find several of interest.

The government continues to assure us that happy days are here again for the U.S. economy and that we don't have anything to worry about - but should we trust what the CBO is telling us now? Of course not. Instead, perhaps we should listen to some of the men that successfully warned us about the last financial crisis and here is what they have to say. Words: 800

16 point 7 trillion dollars. That is our current national debt. 12 point 8 trillion dollars. That is the amount households carry in mortgage and consumer debt. We are now addicted to debt to lubricate the wheels of our financial system. There is nothing wrong with debt per se, but it is safe to say that too much debt relative to how much revenue is being produced is a sign of economic problems. At the core of our current financial mess is how we use debt as a parachute for any problem. [Unfortunately,] addictions are never easily cured and we have yet to come to terms with our insatiable appetite for debt. Words: 850

The infographic below summarizes changes in economic indicators, relevant news stories, commodity and financial trends, and provides technical analysis. It is VERY informative.

Given the economic outlook, there seems little reason for stock prices to be as high as they are...This market could be called a "Madoff Market" in the sense that it is a Ponzi scheme, not the classic Ponzi scheme where exponential growth of new dupes is necessary to keep the scam going...but, rather, on exponential money creation. Fantasy is fun while it lasts but reality eventually intercedes and...[and it is] those way out in fantasy land [who] are especially vulnerable to disappointment [and] so it is for those betting on the stock market and an economic recovery. Let me discuss this further. Words: 1075

[The U.S. governments attempt to prevent the rating agencies (and Standard & Poor's in particular) from following through on their threats to further downgrade the credit worthiness of U. S. government debt] smacks of absolute desperation. It seems that Washington insiders have come to the conclusion that the stability of the U.S. government and financial system is threatened by the ratings agencies. In this case, it is threatened by creditors and citizens knowing the truth about the financial condition of the government.

How bad do things have to get before people realize that we are living through a nightmare? Sadly, most Americans still have faith in the system. They are still convinced that our politicians will somehow find a way to turn things around. Most Americans...[don't realize that] America is literally falling apart all around them. We have been living in the biggest debt bubble in the history of the world, and it is only a matter of time until it bursts. 2008 was just a "hiccup" compared to what is coming. I hope you're getting prepared to survive the economic horror show that is rapidly approaching. Words: 1310

There are literally thousands of economic blogs out there and most don't have much to offer. One exception is a blog by "Katchum" that is dedicated to monitoring breaking global economic news on a day to day basis and, as such, provides unique insights into, and analysis of, various aspects of the financial markets, commodities and the economies of the world. Below is his latest post. If you like it why not subscribe? Words: 642; Charts: 6

Never before in American history have we seen such a pitiful, pathetic, and anemic response to challenges and trials. We are truly a society of wimps. Spiritual wimps, devoid of any courage and conviction when it comes to speaking the truth, and milquetoast coelenterates for failing to look past our own materialism to accept the common truth that what we have been doing is simply not sustainable. You and me both. Let’s dig into the undeniable conclusions, shall we? Words: 1331; Charts: 3

Anybody who thinks the U.S. is in a so-called recovery isn’t listening to economist John Williams. He expects a negative reaction to the U.S. dollar in the next 3 or 4 months leading up to the mid-May deadline for Congress to get the budget and debt ceiling under control. If they do not get their financial house in order by then he believes "it will be the end of the road....as they are not going to have another opportunity".